Fare beaters might want to think about investing in a monthly MetroCard.

The state Senate yesterday voted to raise the maximum penalty for subway scofflaws to $500 a summons — five times the highest fine currently on the books. The legislation also raises fines on turnstile jumpers from $50 to $100.

“At a time when every dollar counts, the MTA needs stronger tools to discourage fare evasion,” said Sen. Charles Fuschillo (R-LI), the Transportation Committee chairman and sponsor of the bill.

An Assembly version of the bill must pass and be signed by Gov. Cuomo before the higher fines become law.